Reign of the USDC whales is coming to an end on @EchelonMarket 🐋🩸 For the first few stages of Initia’s VIP, Echelon has won huge. Amassing 370k+ esINIT rewards for the users. But on Echelon, USDC has ruled. 75% of rewards went to USDC lenders and borrowers. Echelon built up a huge USDC stash (88% of TVL). INIT lenders got ONLY 25%. Borrow side not incentivised. 2 months into mainnet and it's time to shake things up. Starting in 24 hours: → 45% of rewards will go to USDC lenders/borrowers (down from 75%) → 52.5% to INIT lenders/borrowers. This shall finally build a healthy supply APY for lent INIT on Echelon. → Rest is used to incentivise milkINIT, sxINIT, and deINIT deposits which should help build up demand for these assets further! This change also opens up the field to v interesting and profitable farming strategies. (1) Supply a bunch of sxINIT, (2) borrow INIT, (3) supply sxINIT again. Loop maxxing. This position will then be earning: amplified staking yield, bribe rewards from cabal, and VIP rewards on both supply and borrow side! Love this tweak by the Echelon team. Initia DeFi is starting to warm up the engine :)